Saturday, 30 August 2014
Last updated 18 hours ago
Oct 25 2011 | 11:38am ET
Affiliated Managers Group continued its strong run in the third quarter, posting another double-digit increase in profit as its portfolio companies continued to take in new money.
Prides Crossing, Mass.-based AMG, which invests in asset managers and owns stakes in hedge funds AQR Capital Management, BlueMountain Capital Management, ValueAct Capital and Value Partners Group, said its quarterly profit rose 18% year-on-year. In the previous three quarters, the firm had enjoyed at least an 80% increase, and in the fourth and first quarters saw its profit double.
"We are pleased with the ongoing success of our global distribution strategy, which continues to generate meaningfully positive net client cash flows, including $24 billion of net new client assets in the last 12 months," CEO Sean Healey said. Some $4.9 billion of that total came in the third quarter.
AMG's profit for the quarter was $40.1 million, up from $34 million last year.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...